Ovako adds shifts to increase production capacity
In light of growing demand in most of Ovako’s customer segments, the company has decided to selectively increase the number of shifts at its steel and rolling mills, thereby increasing the utilization of production capacity.
The additional shifts will help reduce bottlenecks in the production and raise Ovako's total available production capacity by around 10 percent, depending on product mix. To staff the additional shifts, Ovako expects to hire about 80 new employees, which are anticipated to join the company during the first and second quarter of this year.
“Although there is still a lot of uncertainty about the long-term development for the industry, we are pleased to see that the positive trend we saw at the end of 2016 has continued into 2017”, says Marcus Hedblom, President and CEO at Ovako.
In parallel with the increase of production, Ovako’s work focused on lowering the company’s structural costs continues as planned. As previously announced the company expects to realize cost savings of EUR 18 million during 2017.
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